has anyone else's credit cards interest rate been raised?

Discussion in 'General' started by dgk3188, Feb 21, 2009.

  1. dgk3188

    dgk3188

    3,600
    11
    Joined
    Jul 31, 2004
    [​IMG]

    at first i got a letter from Capital One telling me that their interest rate is now @ 24.9%

    and today i get one from my bank where i had a 7.99% interest rate and it's now at 13.49%!

    i have pretty good credit, last time i checked it was a 720 (i'm 20 years old)

    i doubt its happening because of anything i've done.i've never missed a payment or even had a balance. i ALWAYS pay in full. is this because of howthings are going? (economy and all that crap?)
     
  2. abernja

    abernja

    3,869
    114
    Joined
    Mar 22, 2005
    My dad told me his Capitol One card just doubled the interest rate as well. He's only had one late payment in about 3 years. I guess he's not the onlyone.
     
  3. throwedindagame

    throwedindagame

    6,786
    18
    Joined
    Dec 30, 2006
    They need money.
     
  4. dgk3188

    dgk3188

    3,600
    11
    Joined
    Jul 31, 2004
    [​IMG] jerks!
     
  5. pick99

    pick99

    200
    10
    Joined
    Feb 16, 2006
    working for a credit card company, all of them are feeling the crunch. the company i work for doesnt even have a default interest rate like most (sub primelender)...but with all of the people who are NOT paying it ruins it for the rest of us.... for people that keep balances on the card and this happens you canopt out of the change in terms but it will close your account..... anf for others who carry balances on their card or cards most companies are so hard up justto get their money back if you aske they will just lower your apr to like 2% or 0 % just so u pay the account off...the company i work for is not one of thosecompanies however..
     
  6. frost

    frost

    28
    10
    Joined
    May 17, 2008
    Yup mine was raised from 6% to 14%
     
  7. dgk3188

    dgk3188

    3,600
    11
    Joined
    Jul 31, 2004
    damn. really appreciate that knowledge my dude.
    this is just the tip of the iceberg too huh? things are gonna get way worse [​IMG]
     
  8. mac a roni

    mac a roni Banned

    3,447
    10
    Joined
    Feb 3, 2009
    I got 2 cards, 1 cap and 1 macys, so i pressume itll raise up...but i've been paying %@%% off ontime...




    ...how do you find out your score?
     
  9. wawaweewa

    wawaweewa

    5,494
    13
    Joined
    Jul 25, 2007
    It's not about the money.

    It's too discourage CC holders from charging on their card and the bank taking on more debt.
     
  10. pick99

    pick99

    200
    10
    Joined
    Feb 16, 2006
    to a point... depends what the banks do with the bailout money...it was designed to keep people in their homes and refinance mortgages with ARM loans .... atleast obama made CITI corp give back the 50 million dollar corporate jet back ....yes that was what they tried to use part of their bailout money for... but ithink once we can get mortgages squared away we can start to work on everything else
     
  11. dgk3188

    dgk3188

    3,600
    11
    Joined
    Jul 31, 2004
    only reason i know my credit score is because i tried to get a loan at my bank late last year. but truthfully, i have no idea. i'm sure someone can chip inhere though. i know a lot of those credit check companies just check your credit and make sure you're in good standing, im not sure if they give you yourcredit score though.
     
  12. bbrroowwnnssuuggaarr

    bbrroowwnnssuuggaarr

    378
    10
    Joined
    Jul 19, 2001
    Mine actually just got lowered to a little over %10.
     
  13. wawaweewa

    wawaweewa

    5,494
    13
    Joined
    Jul 25, 2007
    The bailout money was to underwrite bank debt and keep their reserves requirements near Basel II agreement levels.

    This entire *@#!*@!# about "refinancing mortgages" and "lending" to the public is complete horse @*%$. It's a show meant to placate thepublic.
    $50 Million jet was a stunt as well as the attempted CEO pay limit.

    Does that come close to $8.4 trillion that banks have received or are guaranteed to cover their liabilities and reserve requirements?
     
  14. rillo561

    rillo561

    769
    770
    Joined
    Oct 18, 2017
    Mine went up also, had another closed due to inactivity.
     
  15. jrdnkiks213

    jrdnkiks213

    1,408
    10
    Joined
    Aug 3, 2004
    I made a thread about this in December and no one saw it, I guess.

    I called Citi to see if they were able to LOWER my rate because I have been with them for four years and never one late payment nor have they ever lowered myrate. The lady was like, "you didn't receive the letter?". SMH.

    Mine jumped from a 13.99 to 19.99. I can't wait to be able to pay that off.
     
  16. crcballer55

    crcballer55

    3,941
    1,181
    Joined
    Nov 17, 2001
     
  17. toy collector123

    toy collector123

    3,175
    10
    Joined
    Jan 1, 2007
    Wells Fargo treating me right in this depression!

    Got my line raised to 3k (only 19) and interest rate at 6%
     
  18. dirtylicious

    dirtylicious Administrator

    10,508
    206
    Joined
    May 3, 2001
    pay it off in full every month and you won't have to worry about the interest rate...
     
  19. freakydestroyer

    freakydestroyer

    16,518
    2,267
    Joined
    Sep 29, 2003
    F the economy
     
  20. reeeem0

    reeeem0 Banned

    2,418
    30
    Joined
    Apr 7, 2008
    mine jumped from 14% to i thiiiink 29%(?)



    but yet i havent sent them a payment in almost 4 months.....overdrawn and no kind of income ftmfl
     
  21. biggie62

    biggie62

    8,384
    1,650
    Joined
    Oct 15, 2008
    Mine are stable. Even increased my credit limit. But then again my credit score is near perfect.
     
  22. importking

    importking

    3,411
    10
    Joined
    Nov 16, 2001
    damn bra [​IMG][​IMG][​IMG]
    well my credit limit got shortened with Bank of America...Man im starting to hate them[​IMG][​IMG]. , I had a 6K limit, got cut to 3.6K.
    I Missed a payment , I just forgot and paid a day late in December. I think it may have tied in but theres no reason in the Letter . I just received it inMondays mail.

    I spoke to my Aunt and she said that AMEX cut her Credit limit and raised her interest rate by a few percentages.

    mother (#)D*&D#&
    [​IMG][​IMG][​IMG]
     
  23. dgk3188

    dgk3188

    3,600
    11
    Joined
    Jul 31, 2004
    i mean...if these people want to improve the economy...increasing the interest rate is just gonna put more people into heavier debt.

    and Dirty...i always pay off in full
     
  24. crcballer55

    crcballer55

    3,941
    1,181
    Joined
    Nov 17, 2001
    It might actually do the opposite and train people to pay for things with money they actually have. I would not be surprised if this all ends in a backlashagainst the financial industry. I'm actually kind of pissed that the TARP money gave AMEX $4B in bailout money. Their interest rates are high enough! Why do they need to be bailed out for taking obscene amounts of people's money? They won't even negotiate with people to lower their interest or theirdebt settlement.
     
  25. airkeung88

    airkeung88

    5,140
    60
    Joined
    Apr 15, 2006
    always pay it off....never pay attention to my interest. Don't care how high or low it is.